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West of England Strategic Economic Plan 2015-2030 01 Contents WE ARE A PARTNERSHIP FOR GROWTH EMBRACING GROWTH DEAL NEGOTIATIONS FOR 2015-2021 WEST OF ENGLAND STRATEGIC ECONOMIC PLAN 2015-2030 01 CONTENTS Curriculum Vitae: Knowledge, Innovation, Quality of Life 03 Forewords by James Dyson and Colin Skellett 04 1 The West of England Strategic Economic Plan 06 2 The City Region of Choice for a sustainable future 18 3 Economic Strategy 24 4 Local Growth Fund Deal Negotiations 31 5 Using our Levers of Growth 62 5.1 People – Knowledge Economy, Skills & Social Inclusion 63 5.2 Place & Infrastructure 70 5.3 Investment & Promotion 78 5.4 SME Business Support 82 6 Implementation Plan 88 7 Delivery Plan 96 8 Evaluation Plan 106 Appendices 112 Appendix 1: Six Year Plan for the Local Growth Fund 114 Appendix 2: FE Capital Projects – a breakdown of individual proposals 116 Appendix 3: Deadweight and displacement calculations 118 Appendix 4: Pipeline of interventions for the Local Growth Fund 120 3-6 year programme Appendix 5: The Process to identify Interventions for the 124 Local Growth Fund Appendix 6: Shared Priority Investment Maps & Key 126 Appendix 7: Full Business Case Template 138 Technical Supporting Documents available on the LEP website: www.westofenglandlep.co.uk/strategicplan 1 Outline Business Cases for the Local Growth Fund current 2 year programme 2 LEP Sector Prospectus 3 Equality Impact Assessment CuRRICULUM VITAE: KNOWLEDGE, INNOVATION, QUALITY OF LIFE 02|03 CuRRICULUM VITAE KNOWLEDGE, INNOVATION, QUALITY OF LIFE • Over one million people and growing Knowledge Quality of Life • An economy worth £25.5bn • Four world class universities • We are home to the UK’s only • £10bn annually to Treasury with 21 world leading academic World Heritage City – Bath Bristol departments Port • Whose people enjoy a high quality • Bristol is the European Green of life • Attract 73,295 students and £227m Capital 2015 (Centre of Excellence of External Research Funds in Green Technology) Bristol BRIstoL • That attracts, students, families Airport and businesses to the city-region • Five Further Education Colleges, • Areas of Outstanding with annual revenue of £200m, and Natural Beauty • Which is ready for more control over an Enterprise College focused on • Including a coastline that attracts local decision making to achieve its STEM agendas work closely with millions of visitors each year BATH growth potential for Europe, UK plc, business and its own people • Major tourism destinations WESTON- • And this helps to create a highly SUPER-MARE • Ambitious Growth Agenda skilled workforce • Cultural area of excellence – a • Clear governance arrangements vibrant international cultural scene Innovation • One Enterprise Zone and five • First wave of the Global Rockefeller Enterprise Areas • Our region has been on the leading Foundation 100 resilient Cities edge of innovation for centuries, programme • Transport schemes that will unlock we have world class offers in 20,000 jobs and generate £1.2bn design, culture, trade, shipping, GVA pa Population engineering, aerospace, micro- • Airport connecting to 100+ electronics, composites, robotics, destinations, winning ‘best business green technologies, social airport’ in the UK in 2012 enterprise, connectivity and 1.1M digital creativity • 42m people living within a 150 mile radius of Bristol Port which now • We are 1 (out of 2) Social Enterprise hosts cruise liners Cities, 2 (out of 9) hotspots for Creative Cities Economy (GVA) • High enterprise survival rate • Bristol & Bath Science Park, recognised as asset of ‘national £25BN importance’ and home to the National Composites Centre • 7th in FDI Magazines Top 25 European Regions of the future LONDON 1h 20 mins by train FOREWORDS BY JAMES DySON AND COLIN SkELLETT 04|05 AN ECONOMIC REGION BuILT ON SuCCESS WITH STRONG MOMENTUM AND UNTAppED GROWTH POTENTIAL Pick up the newspaper and A number of trailblazing companies Liberating our main city regions We have prioritised five leading you might read that the Great have also chosen Bristol as their hub. is the best way to grow the sectors that have multiplier effects British spirit of invention is on Rolls Royce, BAE Systems, Airbus. economy and skills of people in on the rest of the economy. These the wane. It is true that we face The big names in the aerospace and UK plc. sectors identified 122 ways to a national shortage of 60,000 automotive industries are researching accelerate growth by addressing The West of England LEP, with 800 engineers and technologists exportable technology they can sell to market failures. We prioritised 34 of businesses, four unitary authorities, each year – but Edisonian spirit the world. Renishaw, the engineering these interventions based on their leading education institutions and the remains. The unsung centre of technology company, pours money ability to deliver value most quickly. voluntary sector actively engaged, engineering and invention is into research and development with We then held a public consultation has considered the whole of the West the South West. rigour, and recently won a Queen’s and around one hundred people and of England city region’s economy. Award for its multi-sensor scanning organisations formally responded. Bath and Bristol have a strong This Strategic Economic Plan is a systems. The links between university heritage of inventiveness. From stepping stone towards our 2030 The breadth and depth of participation research and industry here are strong Brunel’s railways and bridges to Vision. It outlines the optimal way for in shaping the city-region’s economy – and fruitful. Concorde – the South West has us to create jobs and growth locally, is unprecedented. The ability of public seen world changing innovation The West of England is home to two and it clarifies how Government can and private sector organisations to for hundreds of years. of the best engineering universities in help us achieve more. work together has broken new the world. World class research from ground. It is increasingly clear that This is not a thing of the past. It was the region is being shared worldwide. local governance, rather than central in Bath that I was given my first job Europe’s biggest robotics laboratory control, will do more to energise after university. Jeremy Fry tasked and the National Composites Centre our economy, to the benefit of me to work in a new direction, call the West of England home – both the local area and UK plc. inventing a high speed boat for his paving the way for the next company, Rotork. I invented the Sea I hope that by working together, technological breakthrough. Hundreds Truck and caught the engineering the transformational change of bright minds are pouring into the bug. I was hooked. thoughtfully developed in this region, and we must keep them here. plan, will be delivered. The West of England has the potential Colin Skellett, OBE to be a hotbed of invention. It should Chair WE LEP inspire young people and create technologies to export to the world. Let us be bold. Who is to say we cannot have English trains traversing the German countryside, and British engineers building power stations across the globe? We must develop technology of our own and be ambitious. A strong growth plan will ensure that our high quality graduates set up shop in Keynsham, for example The unsung centre – creating the next Rolls-Royce here, The breadth and depth of rather than taking their expertise further afield. of engineering and Sir James Dyson participation in shaping invention is the the city-region’s economy South West is unprecedented 06|07 THE WEST OF ENGLAND 1S TRATEGIC ECONOMIC PLAN Regional economies in England 1. Our Economic Strategy: Crucially we will leverage in additional are competing for a slice of £2 Including our Vision, our Story of Place private sector investment and other 1.2 INTRODUCTION billion pounds (per year between and analysis of our evidence base public sector resources that will 2015-2021) of Government funds (Section 1–3) be required to deliver our The government has four aims to help The West of England LEP was one of The West of England economy for economic development, transformational economic plan. 2. Growth Deal: Programme of the economy to grow: to create the the first to be established; built on a is worth £25.5bn per year. through their Local Enterprise interventions for the local growth Our plan has been prepared with most competitive tax system in the successful commitment to partnership Our population of just over a million Partnerships (LEPs). Each LEP is fund and freedoms and flexibilities the support of our local businesses, G20; to make the UK the best place and joint working that goes back is growing and is more educated producing a Strategic Economic sought through the local growth authorities, and education and skills in Europe to start, finance and grow several decades. Over 800 and skilled than the national average. Plan (SEP), which will be deal negotiations (Section 4) providers. We understand that the a business; to encourage investment businesses, civic societies and public We are large enough to contribute competitively assessed by the allocation of public funds needs to be and exports as a route to a more bodies, and thousands of people have some £10bn2 to the Treasury. We are Government in 2014 as part of 3. Delivering our Economic Plan: open and transparent and the balanced economy; and to create engaged with our LEP in its formative small enough to have a strong sense the negotiations on the Local Levers of growth to deliver our monitoring of results needs to be well a more educated workforce that years. The LEP covers a natural of local identity and community. Growth Deal. economic strategy, delivery designed and tight. Good governance is the most flexible inE urope. functional economic area comprising With more local control over public arrangements, governance, Strategic Economic Plans are will be evidenced by high levels of the Unitary Authorities of Bath and expenditure, we are confident and implementation plan and We note that the UK’s eight core-city expected to be much more than a participation and consultation.
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